The Global Environment, Health and Safety Market size is expected to reach $9.2 billion by 2027, rising at a market growth of 7.8% CAGR during the forecast period. Environment, Health, and Safety (EHS) refers to an umbrella term that companies utilize to mention to norms, laws, regulations, professional programs, and workplace efforts with an aim to safeguard the health & safety of employees, the environment, and the public from threats related to the workplace. The EHS division of a company makes sure that the work performed by the organization does not create excessive environmental harm and risking the health & safety of the employees, and follows the issued norms.
To safeguard and decrease the number of accidents, health & emergencies issue at work combined with the environmental harm that occurs from work practices is the main objective of the EHS. Moreover, EHS helps in the formulation and installation of various types of safety & health programs in an organization. EHS refers to the regulatory policy that covers the recognition and compliance of all the production norms of a company with a major focus on working place conditions regarding security and environment.
The ability of environment health and safety services and software to assist companies in streamlining their waste management process is anticipated to boost the demand for environment health and safety software and services. The EHS applications supported by mobile phones and tabs are gaining rapid popularity among end users. EHS mobile applications with functionalities, such as auditing, incident reporting, and access to health and safety information on chemicals, inspections, and others are being developed.
The global pandemic delivered a blend of positive and negative impacts on the global EHS market. This is owing to the fact that carbon emissions have declined around the globe owing to the imposition of lockdown norms. The decline in the emissions because of the global pandemic is only a transitory gain because as industries and businesses are resuming their activities and operations to recover their monetary losses and this aspect would eventually result in a much higher level of carbon emissions.
Moreover, the outbreak of the pandemic has had an adverse impact on recycling efforts around the globe. In addition, different countries including the US, have halted or decrease their recycling efforts in order to focus on the collection of extra household waste or as the virus has affected the services.
Companies are witnessing financial pressure from regulatory bodies to maximize their business processes and install eco-friendly methods of operations. In addition, high scrutiny and strict norms have compelled the management teams to install EHS software solutions with an aim to lower down the growing incidents happening at the workplace. Therefore, it is imperative for organizations to comply with these government norms and strict guidelines for improving the safety of the environment and their workers.
Many companies across all industrial verticals have been forced to adopt EHS solutions due to the integrated environment of government norms, economic conditions, legal forces, and technologies. Moreover, the demand for reliable EHS software is constantly rising because of the high significance of safety of the employee at the workplace. From a business outlook, facing huge fines because of health & safety offenses can impact the monetary resources of the organizations.
There is a rising prevalence of occupational diseases and injuries in emerging as well as under-developed nations because of a number of limitations including the absence of appropriate regulations. Some of the factors that hamper the development and maintenance of a secure and healthy work environment are poor economic position, lack of OSH management, and organizational features of work & employment.
Based on Component, the market is segmented into Software and Services. Services segment is further bifurcated across Business Consulting & Advisory, Audit, Assessment & Regulatory Compliance, Project Deployment & Implementation, Analytics, Certification and Others. Among the services, the analytics segment is expected to witness the maximum growth rate over the forecast years. Analytics services assist the companies in collecting the data from various resources and examining it with an aim to boost the net profit. As soon as the data gets uploaded into the EHS analytics system, companies can see the data in a customizable dashboard, share the data with other companies, and transfer the data into an Excel sheet to create their reports.
Based on Deployment Type, the market is segmented into On-premise and Hosted. The On-premise market dominated the Global Environment, Health and Safety Market by Deployment Type 2020, growing at a CAGR of 7 % during the forecast period. The Hosted market is expected to showcase highest CAGR of 9.2% during (2021 - 2027).
Based on End User, the market is segmented into Energy & Utilities, Chemicals & Materials, Construction & Engineering, Healthcare, Manufacturing, Government & Public Sector and Others. The chemicals segment is expected to obtain a prominent revenue share of the global EHS market during the forecast period. As the activities in the chemical sector need the usage of various kinds of materials and substances, even the smallest handling errors can result in expensive and life-threatening consequences. Hence, EHS solutions are deployed in the industry with an aim to keep track of storage and usage of hazardous chemicals, assist the companies in fulfilling the requirements, and prevent violation of safety norms.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 5.3 Billion |
| Market size forecast in 2027 | USD 9.2 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 7.8% from 2021 to 2027 |
| Number of Pages | 313 |
| Number of Tables | 493 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the global environment, health, and safety (EHS) market and would showcase a similar kind of trend over the forecast years. USA and Canada are the main countries of this region due to the massive adoption of sophisticated technological solutions along with their developed countries, which facilitate investments in the latest technologies. Besides, factor such as the existence of leading players across various nations in this region is responsible for the massive growth of the region.
Free Valuable Insights: Global Environment, Health and Safety Market size to reach USD 9.2 Billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Verisk Analytics, Inc., Wolters Kluwer, and Fortive Corporation are the forerunners in the Environment Health & Safety (EHS) Market. Companies such as SGS S.A., WSP Global, Inc., and Ideagen Plc are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ideagen Plc, Wolters Kluwer, Tetra Tech, Inc., WSP Global, Inc., (Golder Associates), SGS S.A., AECOM Corporation, Fortive Corporation, Verisk Analytics, Inc., Cority Software, Inc. and Gensuite LLC.
By Component
By Deployment Type
By End User
By Geography
The global Environment, Health and Safety market size is expected to reach $9.2 billion by 2027.
Supportive government measures are driving the market in coming years, however, absence of appropriate regulations in emerging nations limited the growth of the market.
Ideagen Plc, Wolters Kluwer, Tetra Tech, Inc., WSP Global, Inc., (Golder Associates), SGS S.A., AECOM Corporation, Fortive Corporation, Verisk Analytics, Inc., Cority Software, Inc. and Gensuite LLC.
The expected CAGR of the Environment, Health and Safety market is 7.8% from 2021 to 2027.
Yes, Online stores have witnessed outstanding sales of convenience foods, bars, and snacks during lockdown but the demand for Environment, Health and Safety remained uninterrupted.
The Asia-Pacific is anticipated to register the maximum growth rate during the forecasting period, owing to the increasing dental tourism, growing awareness related to oral health, and reduced cost of dental laboratory work.
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